A tumultuous week for the US and the global green energy agenda after President Trump's decision.
But that aside, it was also a fairly busy week for small cap oil and gas firms.
SDX Energy Inc (LON:SDX, CVE:SDX) told investors it had expanded its Morocco footprint with the award of an eight-year permit for the 1,362-square kilometre Gharb Centre exploration area.
In return, the company has agreed to shoot 200-square kilometres of 3D seismic and drill two exploration wells within four years.
This acreage connects the Lalla Mimouna exploration permit with SDX’s Sebou producing concession.
Taking control of the property allows the firm to “see the complete basin picture and thus high grade the opportunity dataset that we develop,” said chief executive Paul Welch.
Meanwhile, excitement is building about where Echo Energy Plc (LON:ECHO), the latest vehicle of the team behind the success story that is Sound Energy PLC (LON:SOU), is going to start to invest some of the £26mln it has raised.
Oil commentator Malcolm Graham-Wood spoke to the management team recently and expects action soon, he told Proactive's Andrew Scott.
“Word is they are quite close to a first major acquisition but two or three may be in the pipeline as these people don’t let grass grow under their feet.”
Gas in South America will be the target, he said, with Brazil, Bolivia and Colombia the most likely places for a deal.
“South America is very exciting for gas. The infrastructure is in place. A number of players have exited in last few years and Echo can build quickly by taking on these licences.”
Elsewhere, US -focused TomCo Energy Plc (LON:TOM) agreed the new framework for its new TurboShale Inc business unit to unlock the potential of the Holliday shale block in Utah.
The agreement has been agreed between TomCo, TurboShale Inc, Tomco subsidiary OMC, JR Technologies LLC and Venture Development Partners Ltd (VDP).
Extraction technologies involving methods like radio frequency heating, oxidation, high-voltage fracturing, and oil upgrading will be explored.
TomCo chief Chris Brown said: "These agreements and the combination of the respective parties provide both the technical expertise and market knowledge necessary to not only develop the TurboShale technology but apply it in a commercially viable manner."
WATCH - TomCo Energy takes next steps towards unlocking potential of Holliday shale block
Nigeria-focused Eland Oil & Gas PLC (LON:ELA) said it is now producing from two wells and at a gross rate of 11,500 barrels of oil a day following the restart of Opuama-1.
The company in the same announcement said the process of exporting crude via shipping has concluded having transported 520,000 barrels by sea.
Eland’s joint-venture company in Nigeria is owed US$9.2mln for oil with US$2mln expected to be paid in the next week and the outstanding sum no later than the start of next month.
The business currently has US$5.2mln in cash expects that figure to “build” as production ticks up.
From production to seismic, and Tlou Energy Limited (LON:TLOU) has chosen Aussie company Velseis to acquire seismic data for its Lesedi coal bed methane project and the adjacent Mamba permit in Botswana.
The 250 km 2D seismic programme should start in the next quarter with the aim to boost gas reserves at both projects.
Tony Gilby, Tlou’s managing director, said Velseis had a lot of seismic experience and the survey will enable it to boost the reserves and resources at its CBM gas to power project in Botswana.
Finally, Lekoil Limited (LON:LEK) has received its first payment for oil lifted from the Otakikpo Marginal Field on the OML 11 licence area in Nigeria.
The company received a small premium to the price of Brent Crude over the period before marketing and related costs due to the high quality Otakikpo crude blend.
Current production at Otakikpo is approximately 5,500 bopd (barrels daily).
As part of a production ramp up Lekoil said it will undertake more frequent regular liftings as it focuses on increasing production to 10,000 bopd.